REVIVING A HISTORIC POLYMETALLIC SILVER DISTRICT · TSX-V:TUF THE BEAVER SILVER PROPERTY 7 Located...

TSX-V:TUF www.honeybadgerexp.com

REVIVING A HISTORIC POLYMETALLIC SILVER DISTRICT

Corporate PresentationApril 2018

TSX-V:TUFwww.honeybadgerexp.com


WHY INVEST IN HONEY BADGER?

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▸ Extensive land package in an underexplored and highly prospective Silver district

▸ First Movers – district level play

▸ 3 properties with several historic high-grade silver mines

▸ Potential for polymetallic silver mineralization

▸ Strong technical team

▸ Excellent location and jurisdiction

▸ Great upside potential


CAPITAL STRUCTURE

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Honey Badger Exploration Ltd. Symbol : TUF

Listed exchange TSX-V

Market capitalization $5.0 M

Common shares outstanding 43.49 M

Warrants 16.68 M

Options 2.46 M

Fully diluted shares 62.63 M

Recent share price $0.12 (April 23, 2018)

52-week high-low $0.20 - $0.04


THUNDER BAY SILVER DISTRICT

▸ First silver discoveries in Ontario (1840s)

▸ Polymetallic silver mineralization with gold, copper, cobalt, PGEs, lead and zinc

▸ Extremely high-grade silver operations

• Untested for other metals • Developed by drifting

▸ Mining activities stopped with falling silver price in late 1890’s

▸ Discovery of Cobalt District in 1903 diverted attention away from district

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1892 – InfrontofthemineofficeinThunderBay,silverbarsstackedonsidewalk(ThunderBayLibrary)


LARGE UNTAPPED POTENTIAL

▸ Excellent location and jurisdiction

▸ These vein groups are polymetallic veins historically mined for silver, cobalt, copper, nickel, lead and zinc: “Five-element” veins

▸ Geological similarities to:• Cobalt Silver District – one of

the most productive silver districts in the world (442 Mozsilver);

▸ Mostly unexplored or under-explored with modern exploration techniques

▸ Historic grades from the Mainland vein groups include up to 1.4% cobalt and 25% nickel (historic assay results from Geological Survey of Canada Report, 1889).

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Cobalt Silver District

Thunder Bay Silver District


HONEY BADGER’S THUNDER BAY SILVER CAMP

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▸ Extensive land package

▸ 30,976 hectares

▸ 11 past-producing high-grade mines with historic production > 1.67M oz silver

▸ Prime target for high-grade polymetallic silvermineralization that may includes Pb, Zn, Co, PGEs, Au

▸ Easy access and close to key infrastructures


THE BEAVER SILVER PROPERTY

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▸ Located 25 km SW of Thunder Bay

▸ 4,298 hectares

▸ Option on 3 Cairngorm Mines Ltd. patents (326.72 hectares)

▸ 100% ownership on surrounding contiguous unpatented claims (3,971.56 hectares)

▸ 4 historic mines on the property

▸ Hosts 2nd largest individual silver mine in the district - Beaver Silver Mine

• Historic production of 500,000 ozsilver

• Average grade of 0.2565% silver (Szetu, 1969) with zones grading 3.42% silver (34,200 g/t) (Ingall, 1889)

• Historic drilling of 1239 g/t silver over 1 m (AFRI 52A05SE0027)


HONEY BADGER DISCOVERIES – MARCH 2018 DRILLING

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▸ New mineralized vein next to the Historic Beaver Mine

▸ 2 holes intercept a quartz-amethyst-calcite vein with visible disseminated pyrite, galena, sphalerite and chalcopyrite

▸ Vein >7 metres in length (core length) and at an angle to the known Beaver Mine Vein

▸ Potential for larger system than initially anticipated

▸ Current 1,500 m drill program testing structural traps where the likelihood of finding polymetallic silver mineralization is the highest


THE BEAVER SILVER PROPERTY – HISTORIC DATA

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▸ High-Grade silver results

▸ Channel samples taken on the floors of the various levels of the Beaver mine in May, 1960 (Allan Grant – Stope Survey)

▸ Channel samples taken across the exposed mineralized veins still in place and assayed for silver only

Level Easting (m) Northing (m) Elevation (m)Silver (Oz/t)

5 304508.35 5354828.84 298.98 105.25 304513.70 5354811.76 298.92 1.146 304500.30 5354844.49 269.79 202.46 304558.43 5354758.46 270.16 606 304580.29 5354737.59 269.79 786 304479.00 5354875.12 269.65 11.367 304474.95 5354881.76 250.87 1.027 304474.95 5354881.76 250.87 1.47 304505.88 5354831.39 251.00 3.287 304529.43 5354814.35 250.81 1.26


THE BEAVER SILVER PROPERTY – RECENT RESULTS

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▸ Beaver Mine controlled by series of faults

▸ Faults well defined in new magnetic data

▸ Surface measurements confirm both fault orientation(s) and dip(s)

▸ Drill ready targets


THE SILVER MOUNTAIN/MINK PROPERTY

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▸ 25,117 hectares

▸ 100% ownership

▸ Historic drilling on property of 294.86 g/t silver over 1.62 m (Emery,1947c)

▸ < 1 km south of Silver Mountain Mines

• Historic production of 700,000 oz silver

• Silver-bearing veins traced over 1,500 m in strike length, trending east-west (Franklin et al., 1986)

▸ 3 past-producing mines on property (little known about production and grade)


LILLY OF THE VALLEY/FEDERAL PROPERTY

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▸ 1,556 hectares

▸ 100% ownership

▸ 2 historical mines

▸ Lily of the Valley Mine

• 5,060 pounds bulk sample graded 2.98% silver (Mineral Deposit Inventory for Ontario; Deposit: MDI52A06SW00003)


FAVOURABLE GEOLOGY▸ Mineralization in the District is hosted in

a large series of veins

▸ Mineralization spatially associated to diabase sill intrusions

▸ Honey Badger’s 3 properties:

• Host large diabase sills and important regional faults

• Showcase geological attributes and feeder system for silver mineralization similar to those of the Cobalt District

• Are prospective for polymetallicsilver mineralization

▸ Exploration model will focus on untested faults and the deeper/lateral extension of known mineralized faults on the properties

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2018 EXPLORATION PROGRAM

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What WhenAirborne Geophysics Completed

1,500 m Drill Program Completed*

Field-based Short-Wave Infrared Survey On-going

Geochemical Survey On-going

* Assay results pending


PROVEN TEAM

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President and CEO

Geophysicist with>25 years

experience in mineral exploration, involved in several

Canadiandiscoveries

Quentin Yarie, P.Geo.

CFOFinance Executive

with >15 yrs in mining industry;

former VP Finance at Franco-Nevada

and director at Integra Gold

Petra Decher, CPA, CA

Chief Geologist>8 years of

experience defining base-metals, gold

and uranium deposits in Canada

Jean-François Montreuil,

Ph.D.

Senior Project Manager>20 years

multifaceted mineral exploration

expertise Glencore-Raglan

Conrad Dix, P.Geo.


BOARD OF DIRECTORS

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Financial executive and entrepreneur

with >20 years experience in mining sector;President at

OptimizeGroup

Tara Gilfillan, CPA, ICD.D

Nevsun’s BishaProject

discovery;NextSource

Minerals’ MoloGraphite

Discovery; CEO of NextSource

Craig Scherba, P.Geo.

>20 years experience in

mine design and planning;

Principal, Metals and Mining

Consulting at Wood Mackenzie

Kevin Tanas, P.Eng.

Former portfoliomanager, buy-side analyst

and consulting engineer in

mining sector; SVP at Red

Cloud Klondike Strike

Chad Gilfillan, P.Eng., CFA

Geophysicist with >25 years experience in

mineral exploration, President &

CEO

Quentin Yarie,P.Geo.


SAFE HARBOUR STATEMENT

The information set forth in this document contains “forward-looking statements”. Statements in this document, which are not purely historical, are forward-looking and include statements regarding beliefs, plans, expectations or intentions regarding the future.

Except for the historical information presented herein, matters discussed in this document contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as “estimate,” “anticipate,” “believe,” “plan”, “intend”, “expect”, “may” or “should” or similar statements are forward-looking statements. Risks and uncertainties for the company include, but are not limited to, the risks associated with the impact of general economic conditions in countries in which the Company conducts business, the impact of competitive products and pricing, product demand and market acceptance, new product development, the continuation and development of key customer and supplier relationships, and the availability of high quality, qualified personnel and management.

Other risks include but are not limited to factors affecting development and expansion activities generally including access to capital to meet all of the Company’s financial requirements, and the Company’s ability to control costs. There can be no assurance that the company’s efforts will succeed and the Company will ultimately achieve sustained commercial success. These forward looking statements are made as of the date of this document, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this document are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate.

This information contained in the document has been prepared by management of the company who takes full responsibility for its contents. This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company in any jurisdiction.

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TSX-V:TUF www.honeybadgerexp.com 18

Mia Boiridy, M.Sc.Investor [email protected]

Corporate Office145 Wellington Street West, Suite 1001Toronto, ON M5J 1H8T: 416 364-7029

www.honeybadgerexp.comTSX-V:TUF

REVIVING A HISTORIC POLYMETALLIC SILVER DISTRICT · TSX-V:TUF THE BEAVER SILVER PROPERTY 7 Located...

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